205fx.com Review – Report a Scam

205fx.com Review – Report a Scam

You want to get started trading but have been warned about the many forex scams out there. Fraudulent brokers are no longer as obvious to spot as they once were. That is why we have written this review to alert you that 205fx.com is on our radar as potentially problematic. 

It isn’t just newbie traders that become targets of fraudulent forex brokers. Thanks to technological advances, almost anyone can falsify identities, credentials and licenses and swindle both beginning and advanced traders. We have looked carefully at 205fx.com and have found numerous inconsistencies and problems that send the message, “Stay away!”

There is a world of difference between expert reviews created by our team with years’ experience investigating investment frauds and reviews by so-called customers you may find on some sites. Many of these reviews are not created by customers, but by employees who want to boost or bust a competing broker’s reputation. 

Instead, we are adept at evaluating brokers and have a long track record of alerting the public to potential scams. Many of the brokers we have warned the public about turned out to have been frauds and some are facing criminal prosecution. If you have lost money to 205fx.com or another trading scheme, contact our experts immediately. 

Chargebax is staffed with professionals who will work on your behalf to improve your chances of getting your money back. We have extensive experience with the chargeback process, wire recall, crypto recovery, and intelligence reports and are experts at dealing with all types of scams and winning disputes with merchants and brokers.

The Problem of Scam Brokers

Online trading, along with internet activity in general, has increased dramatically in the past few years. The pandemic, financial insecurity, and more internet activity formed a perfect storm that fueled the online trading trend that has been unstoppable and doesn’t look ready to end anytime soon. 

The online trading market is expected to reach $12.6 billion in 2022. With the increased enthusiasm for online trading, more scam brokers pop up. Fraudulent schemes always seem to attach themselves to trends, like forex trading. 

We believe that 205fx.com is taking advantage of customers and providing fake services as a way of taking money from the public. We did not come across 205fx.com randomly, but used specialized tools to research brokers that have been flagged on suspicion for wrongdoing. 

All or some of the following red flags have been raised regarding 205fx.com

Do These Problems Describe 205fx.com?

No License

The first thing you should check for before signing up with any broker is if they have a license. It is bad enough when a broker tries to deceive customers with a third-rate license, but not even bothering to get any license at all is a sign of bad faith or at the very least indifference toward their customers. 

What would happen if you get into a taxi cab and discovered the driver had no license to operate a vehicle? The only sensible reaction would be to get out of the car. Therefore, if 205fx.com has no license, if they are falsely claiming to have a license, or if they have had their license revoked, request a withdrawal immediately and contact us. 

Offshore License

You might have checked that 205fx.com has a license and feel secure that they are indeed regulated. However, that could be a false sense of security if it is an off-shore license. As important as having a license is holding a top-rated license. The FCA in the United Kingdom, the SEC in the U.S., and ASIC in Australia are examples of first-rate licenses. 

However, so-called regulatory bodies that are not on lists of official regulators issue licenses that are only a fig leaf to cover over dodgy practices. Many fraudulent forex brokers obtain these licenses for a fee, but the regulator does not provide any oversight or protection for customers. If 205fx.com has an offshore license, do not open an account with them. 

Negative Reputation

Not all customer review sites are as trustworthy as expert reviews, but if there is a huge number of negative reviews alleging the same thing, that is not a good sign. If you research 205fx.com only to be bombarded with reviews from unsatisfied customers and negative news on the web as well as conversations on social media about the broker engaging in shady practices, be warned. 

Non-Compliance

If 205fx.com offers trading services in areas where they are not licensed or does not follow the rules in the region they are operating, they have most likely been flagged for non-compliance. Never trust a broker who bends the rules, because they are not likely to respect their customers any more than they respect the law. 

Official Warnings

If a top regulator, such as the SEC or the FCA has warned the public against 205fx.com, do not take a chance. There are thousands of brokers and the fact that this one name has gotten the negative attention of a government regulator means that there must have been a substantial number of complaints or illegal activities to have warranted this kind of attention. Cross 205fx.com off your list if they have been the subject of a warning. 

If you notice 205fx.com doing any of the following, contact us to file a complaint. 

  • Unregulated broker
  • Promises of huge returns
  • Aggressive manner
  • No contact information
  • Very little transparency
  • Large fees or commissions
  • Does not allow withdrawals
  • Stops communication

What If You Have An Account with 205fx.com? 

If you have traded money with 205fx.com withdraw your money immediately. If 205fx.com won’t allow you to withdraw your money, seek assistance from Chargebax experts right away. 

Chargebax Professionals Will Help You Survive a Forex Fraud

You can increase your likelihood of winning a claim if you have sufficient evidence and the help of our excellent financial service. Chargebax professionals will guide you on preparing your case and will assist you with fund recovery. We have combined decades of experience dealing with hundreds of financial institutions.

    * Required fields

     

    1st New York Financial Corporation Review – Report a Scam

    1st New York Financial Corporation Review – Report a Scam

    You want to get started trading but have been warned about the many forex scams out there. Fraudulent brokers are no longer as obvious to spot as they once were. That is why we have written this review to alert you that 1st New York Financial Corporation is on our radar as potentially problematic. 

    It isn’t just newbie traders that become targets of fraudulent forex brokers. Thanks to technological advances, almost anyone can falsify identities, credentials and licenses and swindle both beginning and advanced traders. We have looked carefully at 1st New York Financial Corporation and have found numerous inconsistencies and problems that send the message, “Stay away!”

    There is a world of difference between expert reviews created by our team with years’ experience investigating investment frauds and reviews by so-called customers you may find on some sites. Many of these reviews are not created by customers, but by employees who want to boost or bust a competing broker’s reputation. 

    Instead, we are adept at evaluating brokers and have a long track record of alerting the public to potential scams. Many of the brokers we have warned the public about turned out to have been frauds and some are facing criminal prosecution. If you have lost money to 1st New York Financial Corporation or another trading scheme, contact our experts immediately. 

    Chargebax is staffed with professionals who will work on your behalf to improve your chances of getting your money back. We have extensive experience with the chargeback process, wire recall, crypto recovery, and intelligence reports and are experts at dealing with all types of scams and winning disputes with merchants and brokers.

    The Problem of Scam Brokers

    Online trading, along with internet activity in general, has increased dramatically in the past few years. The pandemic, financial insecurity, and more internet activity formed a perfect storm that fueled the online trading trend that has been unstoppable and doesn’t look ready to end anytime soon. 

    The online trading market is expected to reach $12.6 billion in 2022. With the increased enthusiasm for online trading, more scam brokers pop up. Fraudulent schemes always seem to attach themselves to trends, like forex trading. 

    We believe that 1st New York Financial Corporation is taking advantage of customers and providing fake services as a way of taking money from the public. We did not come across 1st New York Financial Corporation randomly, but used specialized tools to research brokers that have been flagged on suspicion for wrongdoing. 

    All or some of the following red flags have been raised regarding 1st New York Financial Corporation

    Do These Problems Describe 1st New York Financial Corporation?

    No License

    The first thing you should check for before signing up with any broker is if they have a license. It is bad enough when a broker tries to deceive customers with a third-rate license, but not even bothering to get any license at all is a sign of bad faith or at the very least indifference toward their customers. 

    What would happen if you get into a taxi cab and discovered the driver had no license to operate a vehicle? The only sensible reaction would be to get out of the car. Therefore, if 1st New York Financial Corporation has no license, if they are falsely claiming to have a license, or if they have had their license revoked, request a withdrawal immediately and contact us. 

    Offshore License

    You might have checked that 1st New York Financial Corporation has a license and feel secure that they are indeed regulated. However, that could be a false sense of security if it is an off-shore license. As important as having a license is holding a top-rated license. The FCA in the United Kingdom, the SEC in the U.S., and ASIC in Australia are examples of first-rate licenses. 

    However, so-called regulatory bodies that are not on lists of official regulators issue licenses that are only a fig leaf to cover over dodgy practices. Many fraudulent forex brokers obtain these licenses for a fee, but the regulator does not provide any oversight or protection for customers. If 1st New York Financial Corporation has an offshore license, do not open an account with them. 

    Negative Reputation

    Not all customer review sites are as trustworthy as expert reviews, but if there is a huge number of negative reviews alleging the same thing, that is not a good sign. If you research 1st New York Financial Corporation only to be bombarded with reviews from unsatisfied customers and negative news on the web as well as conversations on social media about the broker engaging in shady practices, be warned. 

    Non-Compliance

    If 1st New York Financial Corporation offers trading services in areas where they are not licensed or does not follow the rules in the region they are operating, they have most likely been flagged for non-compliance. Never trust a broker who bends the rules, because they are not likely to respect their customers any more than they respect the law. 

    Official Warnings

    If a top regulator, such as the SEC or the FCA has warned the public against 1st New York Financial Corporation, do not take a chance. There are thousands of brokers and the fact that this one name has gotten the negative attention of a government regulator means that there must have been a substantial number of complaints or illegal activities to have warranted this kind of attention. Cross 1st New York Financial Corporation off your list if they have been the subject of a warning. 

    If you notice 1st New York Financial Corporation doing any of the following, contact us to file a complaint. 

    • Unregulated broker
    • Promises of huge returns
    • Aggressive manner
    • No contact information
    • Very little transparency
    • Large fees or commissions
    • Does not allow withdrawals
    • Stops communication

    What If You Have An Account with 1st New York Financial Corporation? 

    If you have traded money with 1st New York Financial Corporation withdraw your money immediately. If 1st New York Financial Corporation won’t allow you to withdraw your money, seek assistance from Chargebax experts right away. 

    Chargebax Professionals Will Help You Survive a Forex Fraud

    You can increase your likelihood of winning a claim if you have sufficient evidence and the help of our excellent financial service. Chargebax professionals will guide you on preparing your case and will assist you with fund recovery. We have combined decades of experience dealing with hundreds of financial institutions.

      * Required fields

       

      1st American Securities Review – Report a Scam

      1st American Securities Review – Report a Scam

      You want to get started trading but have been warned about the many forex scams out there. Fraudulent brokers are no longer as obvious to spot as they once were. That is why we have written this review to alert you that 1st American Securities is on our radar as potentially problematic. 

      It isn’t just newbie traders that become targets of fraudulent forex brokers. Thanks to technological advances, almost anyone can falsify identities, credentials and licenses and swindle both beginning and advanced traders. We have looked carefully at 1st American Securities and have found numerous inconsistencies and problems that send the message, “Stay away!”

      There is a world of difference between expert reviews created by our team with years’ experience investigating investment frauds and reviews by so-called customers you may find on some sites. Many of these reviews are not created by customers, but by employees who want to boost or bust a competing broker’s reputation. 

      Instead, we are adept at evaluating brokers and have a long track record of alerting the public to potential scams. Many of the brokers we have warned the public about turned out to have been frauds and some are facing criminal prosecution. If you have lost money to 1st American Securities or another trading scheme, contact our experts immediately. 

      Chargebax is staffed with professionals who will work on your behalf to improve your chances of getting your money back. We have extensive experience with the chargeback process, wire recall, crypto recovery, and intelligence reports and are experts at dealing with all types of scams and winning disputes with merchants and brokers.

      The Problem of Scam Brokers

      Online trading, along with internet activity in general, has increased dramatically in the past few years. The pandemic, financial insecurity, and more internet activity formed a perfect storm that fueled the online trading trend that has been unstoppable and doesn’t look ready to end anytime soon. 

      The online trading market is expected to reach $12.6 billion in 2022. With the increased enthusiasm for online trading, more scam brokers pop up. Fraudulent schemes always seem to attach themselves to trends, like forex trading. 

      We believe that 1st American Securities is taking advantage of customers and providing fake services as a way of taking money from the public. We did not come across 1st American Securities randomly, but used specialized tools to research brokers that have been flagged on suspicion for wrongdoing. 

      All or some of the following red flags have been raised regarding 1st American Securities

      Do These Problems Describe 1st American Securities?

      No License

      The first thing you should check for before signing up with any broker is if they have a license. It is bad enough when a broker tries to deceive customers with a third-rate license, but not even bothering to get any license at all is a sign of bad faith or at the very least indifference toward their customers. 

      What would happen if you get into a taxi cab and discovered the driver had no license to operate a vehicle? The only sensible reaction would be to get out of the car. Therefore, if 1st American Securities has no license, if they are falsely claiming to have a license, or if they have had their license revoked, request a withdrawal immediately and contact us. 

      Offshore License

      You might have checked that 1st American Securities has a license and feel secure that they are indeed regulated. However, that could be a false sense of security if it is an off-shore license. As important as having a license is holding a top-rated license. The FCA in the United Kingdom, the SEC in the U.S., and ASIC in Australia are examples of first-rate licenses. 

      However, so-called regulatory bodies that are not on lists of official regulators issue licenses that are only a fig leaf to cover over dodgy practices. Many fraudulent forex brokers obtain these licenses for a fee, but the regulator does not provide any oversight or protection for customers. If 1st American Securities has an offshore license, do not open an account with them. 

      Negative Reputation

      Not all customer review sites are as trustworthy as expert reviews, but if there is a huge number of negative reviews alleging the same thing, that is not a good sign. If you research 1st American Securities only to be bombarded with reviews from unsatisfied customers and negative news on the web as well as conversations on social media about the broker engaging in shady practices, be warned. 

      Non-Compliance

      If 1st American Securities offers trading services in areas where they are not licensed or does not follow the rules in the region they are operating, they have most likely been flagged for non-compliance. Never trust a broker who bends the rules, because they are not likely to respect their customers any more than they respect the law. 

      Official Warnings

      If a top regulator, such as the SEC or the FCA has warned the public against 1st American Securities, do not take a chance. There are thousands of brokers and the fact that this one name has gotten the negative attention of a government regulator means that there must have been a substantial number of complaints or illegal activities to have warranted this kind of attention. Cross 1st American Securities off your list if they have been the subject of a warning. 

      If you notice 1st American Securities doing any of the following, contact us to file a complaint. 

      • Unregulated broker
      • Promises of huge returns
      • Aggressive manner
      • No contact information
      • Very little transparency
      • Large fees or commissions
      • Does not allow withdrawals
      • Stops communication

      What If You Have An Account with 1st American Securities? 

      If you have traded money with 1st American Securities withdraw your money immediately. If 1st American Securities won’t allow you to withdraw your money, seek assistance from Chargebax experts right away. 

      Chargebax Professionals Will Help You Survive a Forex Fraud

      You can increase your likelihood of winning a claim if you have sufficient evidence and the help of our excellent financial service. Chargebax professionals will guide you on preparing your case and will assist you with fund recovery. We have combined decades of experience dealing with hundreds of financial institutions.

        * Required fields

         

        MarketGBP Review – Report a Scam

        MarketGBP Review – Report a Scam

        People are getting excited about cryptocurrency. However, where there is excitement, there is often danger. Unfortunately, the number of fraudulent crypto brokers is greater than regulated and legitimate financial services. Because of the increase in online trading and deals on social media, crypto scams have found more ways to reach people who want to make fast money and are new to cryptocurrencies.

        Unfortunately, many of these brokers use these opportunities as a way to trick people out of their crypto coins. After investigating these suspected crypto scams carefully, we are adding MarketGBP to the blacklist. 

        We don’t like accusing brokers of being fraudulent or jumping to false conclusions. However, after reading countless reviews, looking at regulators’ sites, perusing their alerts, keeping up with news about fraudulent crypto brokers, and using our proprietary investigation methods, we have concluded that consumers should stay away with MarketGBP because it seems to be a crypto scam.

        We urge people who hold an account with MarketGBP to close it and to demand an immediate withdrawal of all of their funds. However, brokers who are involved in fraud will not release funds and will make excuses or charge huge fees for the right. If this happens, report to ChargeBax right away and we will guide you on your next steps. 

        Chargebax understands how to deal with fake brokers and cryptocurrency schemes. We have the expertise and the right strategies to make your chargeback, wire recall, or crypto recovery case successful. We consult with clients and develop strategies to bolster your claim and help you recover your funds. Talk to our professionals today. 

        How Crypto Frauds Work

        MarketGBP may seem like any other broker. It may have a nice website or active social media page, have a friendly approach, claim to have a valid license, and gives you an offer you don’t feel you can refuse–perhaps 1% return a day on bitcoin trades. You do the math and realize that soon you will be seeing triple-digit returns. 

        So what can you lose? All of your money. Not all crypto scams are blatant. They may seem professional and legitimate at first. However, they have a way of pulling people in, holding their money hostage, and persuading them to keep investing more. Sooner or later, customers do not want to believe that brokers like MarketGBP are cheating them because they have invested so much of their money already that want the bad dream to be over. 

        However, with fraudulent brokers, the only end to the bad dream is successful fund recovery, because they do not return money to their victims willingly. That can only start by ending the denial, closing the account, and if that doesn’t work, enlisting the aid of fund recovery professionals like Crypto Trace. 

        Why We Think MarketGBP Is Probably a Crypto Scam

        We make it our business to investigate crypto brokers and to determine whether or not they are legitimate. Sure, you could just consult customer review sites, but there is no way of verifying if these reviews are created by actual customers. 

        Often these reviews are generated by those associated with shady schemes to bolster their reputation. Other reviews may be a smear campaign against competitors. This isn’t to say that customer reviews should be ignored–they certainly should be taken into account–but they should not be a sole source of information about brokers.

        We have done a deep dive into information from regulators, details about the site have applied our tested method, and have determined that MarketGBP is a suspected crypto broker. 

        MarketGBP has been called out for at least several of the following reasons: 

        No License or Offshore License

        Having a license is like a driver’s license. You would not step into a car of a taxi driver that does not have a driver’s license. Similarly, you should not sign up with a broker that does not have a license. 

        However, not any license will do. The license must be up-to-date and genuine. Plenty of brokers falsely claim to have a license and may even present a thoroughly counterfeit image. This is why it is important to verify all licenses on regulators’ websites. 

        Third-rate or offshore licenses may seem satisfactory to some consumers, but they are not worth the virtual paper they are written on. These fake regulators grant licenses in exchange for fees and do not perform any inspections or deal with customers’ complaints. 

        MarketGBP has been called out for not having adequate licensing. Any of the above scenarios may be the case with MarketGBP. The bottom line is that this broker does not have an adequate license.

        Negative Reputation

        MarketGBP has been flagged for having a negative reputation. This is not just due to negative customer reviews, but includes notifications from regulators and MarketGBP may have had been the subject of poor press coverage. You can find a broker that is reliable and do not need to work with a broker that has a shadow over it. 

        False Guarantees

        MarketGBP, like many other crypto schemes, promises returns that can’t be guaranteed. This creates not only disappointment but is an ethical problem for any broker. Risky assets like crypto or forex can’t be predicted and can rise and fall quickly. There is no way any broker can guarantee clients will achieve a certain level of return. 

        Non-Compliance

        MarketGBP may not have complied with regulations. This is serious and can involve legal problems. This usually means that the broker is implementing practices that are contrary to regulations or signing up customers in regions they do not have a license to operate. 

        Official Warnings

        Getting the attention of regulators isn’t easy. The fact that MarketGBP may have been singled out for a warning from regulatory bodies sends a powerful message to stay away. 

        Red Flags for MarketGBP: 

        Here are some major problems that may characterize MarketGBP:

        • No license or low quality licensing
        • No transparency
        • High fees, spreads, and commissions
        • Aggressive manner
        • Does not grant withdrawals
        • Stops communicating

        If MarketGBP shows any of these characteristics, demand a withdrawal of all of your funds immediately. If this is not granted, contact ChargeBax right away.

        Talk to ChargeBax About Tracking Down Your Funds

        If you have lost money to a crypto fraud, you can retrieve your funds with the help of fund recovery assistance. Chargebax experts deal with numerous fund recovery cases and have helped our clients retrieve funds from crypto scams, forex scams, and disputes. We create intelligence reports, negotiate with banks and provide a plan of action that will help you get your funds back.

          * Required fields

           

          VNC Brokers Review – Report a Scam

          VNC Brokers Review – Report a Scam

          People are getting excited about cryptocurrency. However, where there is excitement, there is often danger. Unfortunately, the number of fraudulent crypto brokers is greater than regulated and legitimate financial services. Because of the increase in online trading and deals on social media, crypto scams have found more ways to reach people who want to make fast money and are new to cryptocurrencies.

          Unfortunately, many of these brokers use these opportunities as a way to trick people out of their crypto coins. After investigating these suspected crypto scams carefully, we are adding VNC Brokers to the blacklist. 

          We don’t like accusing brokers of being fraudulent or jumping to false conclusions. However, after reading countless reviews, looking at regulators’ sites, perusing their alerts, keeping up with news about fraudulent crypto brokers, and using our proprietary investigation methods, we have concluded that consumers should stay away with VNC Brokers because it seems to be a crypto scam.

          We urge people who hold an account with VNC Brokers to close it and to demand an immediate withdrawal of all of their funds. However, brokers who are involved in fraud will not release funds and will make excuses or charge huge fees for the right. If this happens, report to ChargeBax right away and we will guide you on your next steps. 

          Chargebax understands how to deal with fake brokers and cryptocurrency schemes. We have the expertise and the right strategies to make your chargeback, wire recall, or crypto recovery case successful. We consult with clients and develop strategies to bolster your claim and help you recover your funds. Talk to our professionals today. 

          How Crypto Frauds Work

          VNC Brokers may seem like any other broker. It may have a nice website or active social media page, have a friendly approach, claim to have a valid license, and gives you an offer you don’t feel you can refuse–perhaps 1% return a day on bitcoin trades. You do the math and realize that soon you will be seeing triple-digit returns. 

          So what can you lose? All of your money. Not all crypto scams are blatant. They may seem professional and legitimate at first. However, they have a way of pulling people in, holding their money hostage, and persuading them to keep investing more. Sooner or later, customers do not want to believe that brokers like VNC Brokers are cheating them because they have invested so much of their money already that want the bad dream to be over. 

          However, with fraudulent brokers, the only end to the bad dream is successful fund recovery, because they do not return money to their victims willingly. That can only start by ending the denial, closing the account, and if that doesn’t work, enlisting the aid of fund recovery professionals like Crypto Trace. 

          Why We Think VNC Brokers Is Probably a Crypto Scam

          We make it our business to investigate crypto brokers and to determine whether or not they are legitimate. Sure, you could just consult customer review sites, but there is no way of verifying if these reviews are created by actual customers. 

          Often these reviews are generated by those associated with shady schemes to bolster their reputation. Other reviews may be a smear campaign against competitors. This isn’t to say that customer reviews should be ignored–they certainly should be taken into account–but they should not be a sole source of information about brokers.

          We have done a deep dive into information from regulators, details about the site have applied our tested method, and have determined that VNC Brokers is a suspected crypto broker. 

          VNC Brokers has been called out for at least several of the following reasons: 

          No License or Offshore License

          Having a license is like a driver’s license. You would not step into a car of a taxi driver that does not have a driver’s license. Similarly, you should not sign up with a broker that does not have a license. 

          However, not any license will do. The license must be up-to-date and genuine. Plenty of brokers falsely claim to have a license and may even present a thoroughly counterfeit image. This is why it is important to verify all licenses on regulators’ websites. 

          Third-rate or offshore licenses may seem satisfactory to some consumers, but they are not worth the virtual paper they are written on. These fake regulators grant licenses in exchange for fees and do not perform any inspections or deal with customers’ complaints. 

          VNC Brokers has been called out for not having adequate licensing. Any of the above scenarios may be the case with VNC Brokers. The bottom line is that this broker does not have an adequate license.

          Negative Reputation

          VNC Brokers has been flagged for having a negative reputation. This is not just due to negative customer reviews, but includes notifications from regulators and VNC Brokers may have had been the subject of poor press coverage. You can find a broker that is reliable and do not need to work with a broker that has a shadow over it. 

          False Guarantees

          VNC Brokers, like many other crypto schemes, promises returns that can’t be guaranteed. This creates not only disappointment but is an ethical problem for any broker. Risky assets like crypto or forex can’t be predicted and can rise and fall quickly. There is no way any broker can guarantee clients will achieve a certain level of return. 

          Non-Compliance

          VNC Brokers may not have complied with regulations. This is serious and can involve legal problems. This usually means that the broker is implementing practices that are contrary to regulations or signing up customers in regions they do not have a license to operate. 

          Official Warnings

          Getting the attention of regulators isn’t easy. The fact that VNC Brokers may have been singled out for a warning from regulatory bodies sends a powerful message to stay away. 

          Red Flags for VNC Brokers: 

          Here are some major problems that may characterize VNC Brokers:

          • No license or low quality licensing
          • No transparency
          • High fees, spreads, and commissions
          • Aggressive manner
          • Does not grant withdrawals
          • Stops communicating

          If VNC Brokers shows any of these characteristics, demand a withdrawal of all of your funds immediately. If this is not granted, contact ChargeBax right away.

          Talk to ChargeBax About Tracking Down Your Funds

          If you have lost money to a crypto fraud, you can retrieve your funds with the help of fund recovery assistance. Chargebax experts deal with numerous fund recovery cases and have helped our clients retrieve funds from crypto scams, forex scams, and disputes. We create intelligence reports, negotiate with banks and provide a plan of action that will help you get your funds back.

            * Required fields

             

            LatAm Review – Report a Scam

            LatAm Review – Report a Scam

            People are getting excited about cryptocurrency. However, where there is excitement, there is often danger. Unfortunately, the number of fraudulent crypto brokers is greater than regulated and legitimate financial services. Because of the increase in online trading and deals on social media, crypto scams have found more ways to reach people who want to make fast money and are new to cryptocurrencies.

            Unfortunately, many of these brokers use these opportunities as a way to trick people out of their crypto coins. After investigating these suspected crypto scams carefully, we are adding LatAm to the blacklist. 

            We don’t like accusing brokers of being fraudulent or jumping to false conclusions. However, after reading countless reviews, looking at regulators’ sites, perusing their alerts, keeping up with news about fraudulent crypto brokers, and using our proprietary investigation methods, we have concluded that consumers should stay away with LatAm because it seems to be a crypto scam.

            We urge people who hold an account with LatAm to close it and to demand an immediate withdrawal of all of their funds. However, brokers who are involved in fraud will not release funds and will make excuses or charge huge fees for the right. If this happens, report to ChargeBax right away and we will guide you on your next steps. 

            Chargebax understands how to deal with fake brokers and cryptocurrency schemes. We have the expertise and the right strategies to make your chargeback, wire recall, or crypto recovery case successful. We consult with clients and develop strategies to bolster your claim and help you recover your funds. Talk to our professionals today. 

            How Crypto Frauds Work

            LatAm may seem like any other broker. It may have a nice website or active social media page, have a friendly approach, claim to have a valid license, and gives you an offer you don’t feel you can refuse–perhaps 1% return a day on bitcoin trades. You do the math and realize that soon you will be seeing triple-digit returns. 

            So what can you lose? All of your money. Not all crypto scams are blatant. They may seem professional and legitimate at first. However, they have a way of pulling people in, holding their money hostage, and persuading them to keep investing more. Sooner or later, customers do not want to believe that brokers like LatAm are cheating them because they have invested so much of their money already that want the bad dream to be over. 

            However, with fraudulent brokers, the only end to the bad dream is successful fund recovery, because they do not return money to their victims willingly. That can only start by ending the denial, closing the account, and if that doesn’t work, enlisting the aid of fund recovery professionals like Crypto Trace. 

            Why We Think LatAm Is Probably a Crypto Scam

            We make it our business to investigate crypto brokers and to determine whether or not they are legitimate. Sure, you could just consult customer review sites, but there is no way of verifying if these reviews are created by actual customers. 

            Often these reviews are generated by those associated with shady schemes to bolster their reputation. Other reviews may be a smear campaign against competitors. This isn’t to say that customer reviews should be ignored–they certainly should be taken into account–but they should not be a sole source of information about brokers.

            We have done a deep dive into information from regulators, details about the site have applied our tested method, and have determined that LatAm is a suspected crypto broker. 

            LatAm has been called out for at least several of the following reasons: 

            No License or Offshore License

            Having a license is like a driver’s license. You would not step into a car of a taxi driver that does not have a driver’s license. Similarly, you should not sign up with a broker that does not have a license. 

            However, not any license will do. The license must be up-to-date and genuine. Plenty of brokers falsely claim to have a license and may even present a thoroughly counterfeit image. This is why it is important to verify all licenses on regulators’ websites. 

            Third-rate or offshore licenses may seem satisfactory to some consumers, but they are not worth the virtual paper they are written on. These fake regulators grant licenses in exchange for fees and do not perform any inspections or deal with customers’ complaints. 

            LatAm has been called out for not having adequate licensing. Any of the above scenarios may be the case with LatAm. The bottom line is that this broker does not have an adequate license.

            Negative Reputation

            LatAm has been flagged for having a negative reputation. This is not just due to negative customer reviews, but includes notifications from regulators and LatAm may have had been the subject of poor press coverage. You can find a broker that is reliable and do not need to work with a broker that has a shadow over it. 

            False Guarantees

            LatAm, like many other crypto schemes, promises returns that can’t be guaranteed. This creates not only disappointment but is an ethical problem for any broker. Risky assets like crypto or forex can’t be predicted and can rise and fall quickly. There is no way any broker can guarantee clients will achieve a certain level of return. 

            Non-Compliance

            LatAm may not have complied with regulations. This is serious and can involve legal problems. This usually means that the broker is implementing practices that are contrary to regulations or signing up customers in regions they do not have a license to operate. 

            Official Warnings

            Getting the attention of regulators isn’t easy. The fact that LatAm may have been singled out for a warning from regulatory bodies sends a powerful message to stay away. 

            Red Flags for LatAm: 

            Here are some major problems that may characterize LatAm:

            • No license or low quality licensing
            • No transparency
            • High fees, spreads, and commissions
            • Aggressive manner
            • Does not grant withdrawals
            • Stops communicating

            If LatAm shows any of these characteristics, demand a withdrawal of all of your funds immediately. If this is not granted, contact ChargeBax right away.

            Talk to ChargeBax About Tracking Down Your Funds

            If you have lost money to a crypto fraud, you can retrieve your funds with the help of fund recovery assistance. Chargebax experts deal with numerous fund recovery cases and have helped our clients retrieve funds from crypto scams, forex scams, and disputes. We create intelligence reports, negotiate with banks and provide a plan of action that will help you get your funds back.

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